Parker-Hannifin third-quarter earns $209.3 mln vs $177.5 mln

MichaelBaron

NEW YORK (MarketWatch) -- Parker-Hannifin Corp.
PH, -0.64%
Tuesday reported fiscal third-quarter earnings of $209.3 million, or $1.78 a share, up from a year-ago profit of $177.5 million, or $1.46 a share. The latest results include a gain of 5 cents a share from a real estate sale. Sales rose 11% in the three-month period to $2.78 billion from $2.5 billion a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of $1.64 a share in the March period. Looking ahead, the Cleveland-based maker of motion and control technology products and systems said it now expects earnings of $6.80 to $7 per share for fiscal 2007, up from a previous projection for a profit of $6.35 to $6.75 a share. The stock closed Monday at $91.65, up 1.8%.

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